IGR vs VXX: Correlation
Measured on weekly returns over the past three years, CBRE Global Real Estate Income Fund (IGR) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.37, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IGR and VXX?
On 3 years of weekly data the IGR/VXX correlation comes out at -0.37, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.38 lands near the 3-year figure. The 5-year figure is -0.42, and annualized covariance runs at -596.9 %².
VXX is close to the least connected end of IGR's tracked universe, ranking #23 of 24. Correlation aside, the last 12 months split them widely, with IGR ahead by 57.5 points (+7.8% versus -49.7%). Note the risk asymmetry: VXX runs 2.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
IGR vs VXX: side by side
| IGR (CBRE Global Real Estate Income Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +7.8% | -49.7% |
| 5-year return | -4.7% | -95.6% |
| Volatility (ann.) | 26.5% | 60.9% |
| Beta vs S&P 500 | 0.81 | -3.31 |
| Max drawdown (3Y) | -29.5% | -83.3% |
| Market cap | $0.7B | – |
| P/E (trailing) | 15.4 | – |
| Dividend yield | 7.73% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IGR | VXX |
|---|---|---|
| 2022 | -35.5% | -23.8% |
| 2023 | +8.6% | -72.5% |
| 2024 | +1.2% | -26.2% |
| 2025 | +5.2% | -42.2% |
| 2026 | +16.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IGR and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
FAQ
What is the correlation between IGR and VXX?
As of 2026-08-27, the correlation of weekly returns between IGR and VXX is -0.37 over 3 years, -0.38 over 1 year and -0.42 over 5 years.
Is VXX a good diversifier for IGR?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
What does a correlation of -0.37 mean?
A reading of -0.37 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/igr-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/igr-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IGR correlations · VXX correlations
